The stock seems to be at an interesting point now.
I think those that had to sell are likely done or are willing to wait it out.
Book Value is $8 and is a better approximation of where this ought to be.
The reason that shares traded at $13 - 15 was because of the dividend.
If shares traded at $8 before the dividend cut, the yield would have been 14.375% which is extremely high.
At $13.50 (where the stock traded for a large part of 2012) the yield was 8.52%
That was still a high yield, but it did not go lower because there was some sense of reality in the valuation (ie. it didn't trade 2 to 3 times book value).
The dividend cut was a necessary evil as it is next to impossible to maintain a 100% payout ratio, especially when your assets have a limited life and investment in new purchases is a fact of a continuing business.
As a potential investment, the stock's current valuation is low and there appears to be a lot of room for appreciation.
I think a number of people are waiting and watching for the stock to bottom out.
News 
Market Data 
Discover 
AI
